Shares of Time Inc. (TIME) are in focus this morning after the media company appointed a chief operating officer, the first executive appointment since Rich Battista took the helm as chief executive officer earlier this week.

COO APPOINTMENT: Time Inc. said this morning that, effective immediately, Jen Wong will become the company's COO, a newly created role. Wong has served as president of Digital since December 2015. Time says Wong will "work closely with Battista on the company's overall strategy and execution." In addition to maintaining oversight of Time's digital operations and strategy, digital product development and engineering and The Foundry, Wong will assume oversight of the Consumer Marketing + Revenue division. Leslie Dukker Doty, who joined Time In.c earlier this year as executive vice president, Consumer Marketing + Revenue, will report to Wong.

WHAT'S NOTABLE: Wong is the first executive appointment since Rich Battista was named Time Inc. CEO on Tuesday. Battista, who had been EVP of Time and president of Brands, replaced Joe Ripp, who continues on as executive chairman. Battista was named CEO a month after Jana Partners bought a 5% stake in the media company. Time has been working to expand its digital business and recently launched an ad-supported streaming video service called the People/Entertainment Weekly Network. The launch represents an opportunity for the magazine publisher to diversify by gaining digital audience and scale, The Wall Street Journal said this week.